UMB Bank n.a. Lowers Position in Fabrinet (NYSE:FN)

UMB Bank n.a. decreased its position in shares of Fabrinet (NYSE:FN) by 18.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196 shares of the technology company’s stock after selling 44 shares during the quarter. UMB Bank n.a.’s holdings in Fabrinet were worth $43,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FN. Huntington National Bank grew its holdings in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the period. Kimelman & Baird LLC purchased a new stake in Fabrinet during the 2nd quarter worth approximately $49,000. NBC Securities Inc. lifted its position in shares of Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after acquiring an additional 183 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fabrinet in the third quarter worth approximately $52,000. Finally, Eastern Bank acquired a new position in Fabrinet in the 3rd quarter valued at $59,000. 97.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FN has been the subject of a number of recent research reports. Barclays initiated coverage on shares of Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price for the company. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and dropped their price target for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Needham & Company LLC assumed coverage on Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Fabrinet has a consensus rating of “Hold” and a consensus target price of $252.14.

Fabrinet Stock Down 2.9 %

FN stock opened at $258.14 on Friday. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 30.55 and a beta of 0.93. The business has a fifty day moving average of $233.48 and a two-hundred day moving average of $236.11.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. The firm had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the company earned $1.78 EPS. As a group, sell-side analysts anticipate that Fabrinet will post 9.1 EPS for the current year.

Fabrinet Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.